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first_img Huawei secures a 15 billion yuan seven-year offshore loan, chip spending increases

According to Bloomberg's report on October 22, Huawei Technologies Co., Ltd. has secured a loan of 15 billion yuan (approximately 2.25 billion USD), amid a significant increase in chip spending for artificial intelligence-related projects. A knowledgeable source stated that this seven-year offshore yuan loan was provided by six Chinese lending institutions, including Bank of China, China Construction Bank, and Industrial and Commercial Bank of China, and the funds will be used for general corporate purposes. The source requested anonymity as the discussion pertains to non-public matters.According to Moneycontrol, which reprinted the content attributed to Bloomberg, this transaction illustrates the role of domestic lending institutions in Huawei's offshore financing since the United States imposed restrictions on Huawei in 2019. Before finalizing, Huawei had exploratory contacts with international banks. Huawei, Bank of China, China Construction Bank, and Industrial and Commercial Bank of China did not immediately respond to requests for comment.The report states that Huawei's research and development expenditure increased to 121 billion yuan in the first half of this year, while stockpiling due to soaring memory costs led to a negative cash flow of 39.9 billion yuan, eroding current profits. According to compiled data from Bloomberg, this is Huawei's first offshore syndicated loan since raising 11.8 billion Hong Kong dollars (approximately 1.5 billion USD) in 2020.

First Digital plans SPAC merger to rush onto Nasdaq, Catalyst and Soda Labs secure significant financing

According to BBX data, yesterday global digital asset institutions disclosed the latest developments in capital operations, top venture capital layouts, and privacy infrastructure expansion. The core information is as follows:First Digital has reached a merger agreement with a SPAC, valuing at $250 million, aiming for a Nasdaq listing: The issuer of the dollar stablecoin FDUSD, First Digital, officially announced the signing of a final business merger agreement with the special purpose acquisition company CSLM Digital Asset Acquisition Corp III. The pre-transaction equity valuation for this deal is $250 million. Upon completion of the merger, First Digital will become a wholly-owned subsidiary of a newly established Cayman holding company, with its existing shareholders fully exchanged for Class A common stock of the holding company. The newly merged entity is expected to officially list on Nasdaq in the first half of 2027.AI trading agent startup Catalyst completes $30 million seed round financing, led by Sequoia Capital: AI trading agent startup Catalyst announced the completion of a $30 million seed round financing. This round was led by the world’s top venture capital firm Sequoia Capital, with participation from Wall Street high-frequency quantitative firm Jump Trading, Peak XV, Lux Capital, AntiFund, cryptocurrency exchange giant Coinbase, and Premji Invest, among other well-known institutions. The funds will be used to advance the development of the next-generation on-chain smart trading agent protocol.Blockchain privacy infrastructure Soda Labs receives exclusive $3 million seed round investment from NextBlock: Blockchain privacy infrastructure developer Soda Labs announced the completion of a $3 million seed round financing, exclusively invested by NextBlock. This funding will be specifically used for global market expansion, expanding the verification node network and blockchain support coverage, core team building, and accelerating the integration of its underlying protocol with commercial banks, traditional payment companies, and real-world asset (RWA) platforms. Soda Labs disclosed that its core privacy layer Bubble currently supports Ethereum, Polygon, Arbitrum, Base, and COTI, and is fully expanding to high-performance networks like Solana.
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